Equities analysts forecast that Nuance Communications Inc. (NASDAQ:NUAN) will announce sales of $524.95 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Nuance Communications’ earnings, with the highest sales estimate coming in at $526.00 million and the lowest estimate coming in at $523.90 million. Nuance Communications reported sales of $474.65 million during the same quarter last year, which indicates a positive year-over-year growth rate of 10.6%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, November 27th.
According to Zacks, analysts expect that Nuance Communications will report full-year sales of $2.06 billion for the current fiscal year. For the next financial year, analysts expect that the company will post sales of $2.13 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Nuance Communications.
Nuance Communications (NASDAQ:NUAN) last issued its quarterly earnings results on Wednesday, August 8th. The software maker reported $0.27 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.27. Nuance Communications had a negative net margin of 9.55% and a positive return on equity of 9.67%. The firm had revenue of $502.89 million during the quarter, compared to the consensus estimate of $495.53 million. During the same period in the prior year, the firm earned $0.30 EPS. The business’s revenue was up 3.4% on a year-over-year basis.
A number of research firms have recently commented on NUAN. Wedbush began coverage on shares of Nuance Communications in a report on Thursday. They set an “outperform” rating and a $22.00 price objective for the company. ValuEngine raised shares of Nuance Communications from a “hold” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research downgraded shares of Nuance Communications from a “buy” rating to a “hold” rating in a report on Wednesday, October 10th. BidaskClub raised shares of Nuance Communications from a “hold” rating to a “buy” rating in a report on Wednesday, October 3rd. Finally, Standpoint Research downgraded shares of Nuance Communications from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $19.88.
In other news, insider Robert Weideman sold 16,675 shares of the firm’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $17.35, for a total transaction of $289,311.25. Following the completion of the transaction, the insider now directly owns 420,419 shares of the company’s stock, valued at approximately $7,294,269.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel David Tempesta sold 7,500 shares of Nuance Communications stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $16.30, for a total transaction of $122,250.00. Following the transaction, the insider now directly owns 332,883 shares of the company’s stock, valued at $5,425,992.90. The disclosure for this sale can be found here. Insiders have sold a total of 52,025 shares of company stock valued at $877,141 over the last ninety days. 1.67% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in NUAN. Northern Trust Corp lifted its holdings in Nuance Communications by 3.0% during the 1st quarter. Northern Trust Corp now owns 1,306,440 shares of the software maker’s stock valued at $20,577,000 after purchasing an additional 38,216 shares during the last quarter. GSA Capital Partners LLP bought a new position in Nuance Communications during the 1st quarter valued at about $720,000. A.R.T. Advisors LLC bought a new position in Nuance Communications during the 1st quarter valued at about $184,000. Natixis bought a new position in Nuance Communications during the 1st quarter valued at about $1,972,000. Finally, Ladenburg Thalmann Financial Services Inc. lifted its holdings in Nuance Communications by 50.7% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 23,992 shares of the software maker’s stock valued at $377,000 after purchasing an additional 8,071 shares during the last quarter. 88.66% of the stock is owned by hedge funds and other institutional investors.
Nuance Communications stock traded down $0.04 during mid-day trading on Friday, reaching $17.22. The company had a trading volume of 1,964,600 shares, compared to its average volume of 2,626,342. The company has a market cap of $5.02 billion, a PE ratio of 28.70, a price-to-earnings-growth ratio of 1.68 and a beta of 0.75. Nuance Communications has a 52 week low of $12.18 and a 52 week high of $18.75. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.35 and a quick ratio of 1.35.
Nuance Communications declared that its board has approved a share repurchase program on Wednesday, August 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the software maker to repurchase up to 10.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
Nuance Communications Company Profile
Nuance Communications, Inc provides voice recognition and natural language understanding solutions worldwide. It operates through four segments: Healthcare, Mobile, Enterprise, and Imaging. The Healthcare segment offers transcription solutions, which enable physicians to streamline clinical documentation with medical transcription platform; Dragon Medical, a dictation software that empowers physicians to capture and document patient care on various devices; clinical document improvement and coding solutions that ensure patient health information; diagnostic solutions that allow radiologists to document, collaborate, and share medical images and reports; and professional and personal productivity solutions to business users and consumers.
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